Latest news with #Overstock
Yahoo
06-05-2025
- Business
- Yahoo
Kirkland's eyes additional $5M in funds from Beyond as fourth-quarter sales drop
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Dive Brief: Following the completion of its deal with Beyond Inc. earlier this year, Kirkland's announced fourth-quarter net sales dropped about 10% year over year to $148.9 million, according to a company press release Thursday. The decrease mostly stemmed from a 4% drop in store count, a decline in e-commerce sales and an extra week in the previous year's quarter. The home retailer's net income for the quarter fell about 22% to $7.9 million while operating income dropped 14% to $9.2 million. For the full fiscal year, Kirkland's net sales decreased nearly 6% to $441.4 million and its net loss improved to $23.1 million from $27.8 million the year before. Kirkland's also announced that it was in discussions to finalize an additional $5 million loan from Beyond as an expansion of its existing credit deal with the company. Expected to close this week, the new funds would be used for general purposes, including the 'conversion of certain locations to Bed Bath & Beyond Home and Overstock stores.' Dive Insight: While dealing with tariff uncertainty and the potential impact on consumers, Kirkland's leadership is focused on its work with Beyond Inc. 'We have identified the first of many potential store conversions under the Bed Bath & Beyond Home and Overstock banners that we believe will not only drive stronger brand awareness and customer acquisition but also support our ongoing transformation efforts,' Kirkland's CEO Amy Sullivan said in a statement. On an earnings call with investors, Sullivan revealed that Kirkland's has identified a Nashville location as the first of several Bed Bath & Beyond Home conversions. The home retailer entered into a strategic partnership with Beyond (which operates Bed Bath & Beyond, BuyBuy Baby and Overstock) in October that includes the opening of up to five neighborhood small-format Bed Bath & Beyond stores, for which Kirkland's is the exclusive operator and licensee. The deal additionally included the possibility of Bed Bath & Beyond shop-in-shops opening at Kirkland's locations. Furthermore, the companies entered into a seven-year agreement that lets Beyond earn a 0.25% collaboration fee on all of Kirkland's quarterly retail and e-commerce revenue. The deal closed in February as a $25 million investment from Beyond, with Beyond owning 40% of Kirkland's outstanding shares of common stock. The same month, Kirkland's announced it would close about 6% of its stores as part of the larger turnaround effort.
Business Wire
24-04-2025
- Business
- Business Wire
Beyond, Inc. Launches First-Ever ‘O' Days Anniversary Event
MURRAY, Utah--(BUSINESS WIRE)--Beyond, Inc. (NYSE:BYON), owner of Bed Bath & Beyond, Overstock, and buybuy BABY, is excited to announce the launch of the first ever Overstock 'O' Days Anniversary Event commemorating Overstock's founding in the spring of 1999. 'This is the broadest and deepest sale we've had in years at Overstock, and we are beyond excited to offer our customers these deals on their favorite legacy categories.' -- Marcus Lemonis, Executive Chairman and Principal Executive Officer of Beyond, Inc Share From April 24th to April 28th customers will enjoy five days of Overstock's everyday deep discounts amplified by substantial 'additional off' coupons on customer favorites, including: Thousands of products up to 75% off with Flash Price Drops™ Additional 25% off select rugs for 5 days only Additional 20% off select jewelry for 5 days only Additional 15% off select mattresses for 5 days only Additional 10% off select furniture – including patio - for 5 days only - for 5 days only Up to 55% off handpicked designer luxury items including the Burberry Flash Sale 'This is the broadest and deepest sale we've had in years at Overstock, and we are beyond excited to offer our customers these deals on their favorite legacy categories,' said Marcus Lemonis, Executive Chairman and Principal Executive Officer of Beyond, Inc. 'These are the kinds of deals that don't come around every day – and bringing them all together in one event is something we're immensely excited about.' Don't miss the first ever 'O' Days Anniversary event — five days to save like it's 1999! About Beyond Beyond, Inc. (NYSE:BYON), based in Murray, Utah, is an ecommerce focused affinity company that owns or has ownership interests in various retail brands, offering a comprehensive array of products and services that enable its customers to unlock their homes' potential through its vast data cooperative. The Company currently owns Bed Bath & Beyond, Overstock, buybuy BABY, and other related brands and websites. The Company regularly posts information and updates on its Newsroom and Investor Relations pages on its website, Beyond, Bed Bath & Beyond, Overstock, buybuy BABY, and Flash Price Drops are trademarks of Beyond, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding future sales and promotions, including size, scope, and duration of such, and any consequences associated with the sales and promotions; forward-looking statements also include statements regarding our token offering and use of tZERO, including terms, availability of information on X or otherwise, timing and availability of such token offering, and any consequences relating to such token offering or the use of the tZERO platform. Additional information regarding factors that could materially affect results, and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 25, 2025, and in our subsequent filings with the SEC.
Business Wire
24-04-2025
- Business
- Business Wire
the Overstock ‘O' Digital Asset Security Offering on the tZERO Platform
MURRAY, Utah--(BUSINESS WIRE)--Beyond, Inc. (NYSE:BYON), owner of Bed Bath & Beyond, Overstock, and buybuy BABY, is excited to announce that its subsidiary, Commercial Strategies, Inc., launched its first ever crowdfunding offering of a tokenized digital security linked to Overstock intellectual property. "The 'O' Digital Token will offer its investors a way to participate in Overstock brand's growth and create a community to belong to." -- Marcus Lemonis, Executive Chairman and Principal Executive Officer of Beyond, Inc. Marcus Lemonis, Executive Chairman and Principal Executive Officer of Beyond, Inc., commented, 'We are excited our subsidiary launched its first ever real-world asset with the 'O' Digital Token. This digital asset is a crowdfunding offering of a tokenized digital security linked to Overstock intellectual property, a real- world asset, and it's designed to pay an annual dividend. This will also support and demonstrate the efficacy of the tZERO platform, a company where Beyond owns a very significant interest. The 'O' Digital Token will also offer its investors a way to participate in Overstock brand's growth and create a community to belong to.' Commercial Strategies is seeking to raise at least $250,000 by October 15, 2025, with a maximum offering amount of $1,200,000, to increase Commercial Strategies' capitalization and financial flexibility, create a market for its tokenized digital securities, and increase awareness of the Overstock brand. Holders of Beyond common stock will be able to take advantage of preferred subscription pricing of $5.00 per share. The price of the shares for all other investors is $10.00 per share. The holders of the shares will be entitled to receive an annual pro rata dividend derived from 1% of the net sales from subject to lawful ability to pay and if declared. The offering of the digital security by Commercial Strategies is being made exclusively on tZERO's Brokerage Platform, operated by tZERO Securities, LLC, an SEC and FINRA regulated broker dealer, pursuant to Section 4(a)(6) of the Securities Act. For full details relating to the offering and access to tZERO's Brokerage Platform, please visit: About Beyond Beyond, Inc. (NYSE:BYON), based in Murray, Utah, is an ecommerce focused affinity company that owns or has ownership interests in various retail brands, offering a comprehensive array of products and services that enable its customers to unlock their homes' potential through its vast data cooperative. Beyond, Inc. currently owns Bed Bath & Beyond, Overstock, buybuy BABY, and other related brands and websites. Beyond, Inc. regularly posts information and updates on its Newsroom and Investor Relations pages on its website, About tZERO tZERO Group, Inc. (tZERO) and its broker-dealer subsidiaries provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and make such equity available for trading on an alternative trading system. tZERO, through its broker-dealer subsidiaries, democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. All technology services are offered through tZERO Technologies, LLC. For more information, please visit our website. About tZERO Securities tZERO Securities, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. It is the intermediary broker-dealer for the Regulation Crowdfunding offering, which is being made pursuant to section 4(a)(6) of the Securities Act. More information about tZERO Securities may be found on FINRA's BrokerCheck. Investor Notice Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in a single security could mean lack of diversification and, consequently, higher risk. No Offer, Solicitation, Investment Advice or Recommendations This release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by Beyond, tZERO or any of their respective affiliates, subsidiaries, officers, directors or employees. No money or other consideration is being solicited in connection with this release, and if any money or consideration is sent in response to this release, it will not be accepted. No offer to buy the securities to be offered under Regulation Crowdfunding can be accepted in connection with this release. A person's indication of interest involves no obligation or commitment of any kind. No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding our digital asset security offering and use of tZERO's brokerage services, including terms, availability of information, timing and availability of such digital asset security offering, and any consequences relating to such digital asset security offering or the use of tZERO's Brokerage Platform. Additional information regarding factors that could materially affect results, and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 25, 2025, and in our subsequent filings with the SEC.
Yahoo
26-03-2025
- Politics
- Yahoo
Murdaugh lawyer to represent Hunter Biden
SOUTH CAROLINA (WSAV) — Dick Harpootlian, former State Senator and attorney who represented Alex Murdaugh, will now represent Hunter Biden in a libel suit. Harpootlian will represent Biden, son of Former President Joe Biden, in a federal libel suit against Overstock CEO Patrick Byrne in Los Angeles, Ca. He previously served as defense in the widely publicized 2023 trial in which Alex Murdaugh was found guilty of two counts of murder and two counts of possession of a weapon. The suit argues that Byrne falsely stated that Biden ''was reaching out to the Iranian government in the fall of 2021′ and offering to have [his] father, President Joe Biden, 'unfreeze' $8 billion in Iranian funds 'in return for $800 million being funneled into a numbered account for us.'' Biden calls the statements as 'outrageous' and argues Byrne 'knows his statements are baseless and yet published and republished them anyway.' In 2024, Biden pled guilty to tax and firearms-related charges. President Joe Biden pardoned his son for all the federal offenses before leaving office. WSAV has reached out to Harpootlian's office for request to comment. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
28-01-2025
- Business
- Yahoo
Salt Lake County closer to moving operations with legislative effort
Salt Lake County is another step closer to moving its operations to Overstock's old headquarters next year. The Utah House of Representatives voted unanimously Monday to approve HB55, a bill that would allow a county to "maintain additional office space" in an area outside of the county's seat. "All it says is it allows them to conduct business and have offices outside the county seat," Rep. Jim Dunnigan, R-Taylorsville, the bill's sponsor, said before the vote. Dunnigan explained that Salt Lake City has always been the county seat, but the county recently ran into a need to move and found its best option outside of Salt Lake City. Salt Lake County leaders announced last month they had finalized a deal to acquire Beyond, Inc.'s corporate office in Midvale for $52 million, intending to move county operations into the 9-year-old building sometime in 2026. It came as the county determined renovations of its current 40-year-old facility at the corner of 2100 South and State Street would likely exceed $225 million. The impending move "saves taxpayers money while also improving customer service and public access," Salt Lake County Mayor Jenny Wilson explained after the deal was finalized. The building is located near I-15's 7200 South exit and the Bingham Junction TRAX station. While Dunnigan's bill was created with Salt Lake County in mind, he said Monday, it could be applied elsewhere. "It's permissive; it doesn't require any county to do it, but it allows it if they want," he added. The measure passed, without much discussion, to the Utah Senate. If approved by the Utah Legislature by the end of March 7, it would go into effect in May — well before the county's planned move. As for Salt Lake County's outgoing facility, officials said last month they'd start a 'review process' of the property to determine its future.
